Property / RealEstate / Sales · October 29, 2021

How to sell my house to buy another?

How to sell my house to buy another?

 It is a question we commonly ask ourselves when we decide that it is time to breathe new life into our lives.

There are many reasons why we can put our house up for sale to acquire a new property, and there are also several ways to sell your house to buy another one. Among them, taking out a home equity loan, selling your house to Habi or using real estate buying and selling pages.

In this article we will tell you how to sell your house to buy another, when is the best time to sell, we will also share with you the best websites to sell houses for free in Colombia, Mexico, Venezuela and the United States.

Selling to buy another house with the income obtained is part of a process called “Chain of properties” which consists in that the purchase and sale of your property is directly related to the decisions made by other people, who may be your potential buyers or sellers.

If I sell my house and buy another, it will not only be me or my family who have the control and the final decision, since other people who are participants in the property chain are involved in this exchange.

How to sell my house to buy another?

There are several options that exist in Colombia when you decide to sell to buy. Among those, you can mortgage your apartment to a bank to buy another house, sell to Habi or investigate pages for buying and selling houses in Colombia, since on these platforms you can put your property up for sale and at the same time see what houses are selling with the features you need and the value that best fits your pocket.

Sell ​​my house to the bank to buy another

The idea of ​​selling your house to a bank may seem like a good option, since the financial institution will be in charge of giving you the financial liquidity you need to acquire the other property, which saves you time and effort. Thinking that the same company that lends you the money is the one that buys your house is fantastic. However, these entities in Colombia do not directly buy real estate. What they do is give home equity loans.

What is a home equity loan? 

A loan with a mortgage guarantee is the loan that a financial institution makes you for any purpose such as buying another house, a trip, financing studies and any situation in which you want to invest the money. However, in order for them to lend you, you must put up real estate as a guarantee that you are going to pay the debt.

If you want to sell to buy and decide to choose this option, you can buy the new house with the money that the bank gives you and while you wait for the ideal buyer of your property to appear. Which is good when the property to buy is at a profitable price or is an opportunity that you urgently need to take advantage of, either due to financial issues or a personal situation that implies urgently moving from your old home, such as a divorce, growth of the family or wishes to have a change of life.

However, becoming a creditor of a home equity loan also known as a home equity loan has its disadvantages such as paying interest and the possibility of losing your home if you do not pay the installments. However, you don’t have to get into these situations if you can quickly find a buyer who will pay what your house is worth in cash, and thus pay off the loan immediately and save interest.

As we mentioned before if you are wondering: how to sell my house to buy another, one of the options you have is the pages to sell and buy real estate.

Sell ​​my house to Habi

At Habi we are a pioneering startup in the proptech sector in Colombia, and we have an innovative model of buying houses in 10 days thanks to Big Data and technology.

Selling a property is so easy that you can do it in a single click here and fill in the data with the characteristics of the property. Then, our team will evaluate it and if it meets our criteria we will make you an offer, which you decide whether to accept or not. Once the promise of sale is signed, we will be giving you the money for your property and closing the sale in the next 10 days.

In addition to selling your house, you can also buy us the property you want, since we have a portfolio of houses and apartments in Bogotá, Medellin, Cali and Barranquilla.

When you buy from Habi you do not have to worry about intermediaries, you are guaranteed that the apartment has all its legal documentation up to date, you can move immediately because all our properties are delivered remodeled and you can also easily access bank loans, now that we have an agreement with 7 banks to provide preferential service and benefits to our clients. Buying an apartment at Habi is so easy that you shouldn’t worry.

Pages to sell houses for free in Colombia

Since the rise of the internet in the early 2000s, platforms and pages have grown to sell houses for free in Colombia and throughout the world, so if you have decided to sell your apartment to buy another one of the first steps you should take is to go to the internet and Google: How to sell my house to buy another.

Search in google how to sell my house to buy another

Doing so will immediately give you options for pages and companies in which you can publish your advertisement for sale and at the same time look at other properties that are selling and that can meet the characteristics of the house of your dreams.

As in Habi we always look for a way to make your life easier, we have put together in a list the best 10 pages to sell houses for free in Colombia, and we also include other platforms to sell and buy a house in Mexico, the United States and Venezuela, in case you want is to start a new life in another country.

Top 5 pages to sell houses for free in Colombia

Find out which are the best pages to announce that you are selling your house in Colombia.

  1. Real Estate
  2. Square meter
  3. OLX
  4. Free market
  5. Hundreds

Pages to sell houses for free in Mexico

  1. Trivet
  2. Lamed
  3. realty24.com

Pages to sell houses in the United States

  1. Zillow
  2. realtor.com
  3. Red fin

I want to sell my house in Venezuela

Due to the high migration between Colombia and Venezuela, it is common that some people who currently live in Colombia and previously resided in Venezuela want to sell their house in the neighboring country through online platforms because they cannot travel to the place where the house is located to make a face-to-face sale.

If this is your case, we have good news! Here we tell you on which pages you can publish your property if what you want is to sell your house in Venezuela.

  1. Conlallave.com
  2. venezuela.bienesonline.com
  3. Free market

If you manage to sell your house in Venezuela, you will be one step closer to being able to buy your own home in Colombia and make your stay in this country an incredible experience.

When you have already decided that you want to sell your house there are many questions that will go through your head questioning if it is a good idea to sell the property, when is a good time to sell the house , if it is better to rent or if you should buy a new apartment right away .

Although the answers to all these questions vary according to the personal situation, here we will tell you how to identify when is a good time to sell your house and buy another.

Is it a good time to sell a house?

If you already know that you want to sell but are not sure if the time is right, thinking about the sentimental and rational reasons involved in the sale will help you define whether or not you are ready to put your house up for sale.

Get to know the TOP 10 reasons why Colombians sell their house in 2021

Top 10 reasons why Colombians sell their house

  1. I need to pay debts.
  2. I am divorced and want to sell my house.
  3. I am selling an urgent house for a trip.
  4. City change.
  5. I am selling my house for a job change.
  6. Buy a bigger one because the family grew.
  7. I am selling my house to invest in a business.
  8. I sell my house because of the death of my husband.
  9. Marriage.
  10. I want to change the environment.

Whether you want to sell your home for one of these reasons or not, consider the following aspects to define when is a good time to sell your home.

  • Reason for sale

Knowing why you want to sell your property will help you identify if you have to sell it right now or if you can start the process calmly. It is not the same to have to sell because you start a job in another country next month to sell the property because you want to change of scene.

  • Property environment

Consider how you feel at home. If you think it is a nice, warm and comfortable place or if on the contrary you do not like anything about it and it only causes you discomfort to continue there.

  • Family relationship

When the house is a family estate, the decision to sell is not only made by one person, therefore you must be sure that the other owners agree to sell.

  • Personal finance

Although it is clear that when you sell the house you will receive money, you have to take into account that part of the payment will go to pay for the notarial and deed expenses. Also, if you do not have a place to live when you have sold your apartment you will have to withdraw money to pay for accommodation until you find your new home.

When is it better to sell a house?

Although since 2019 with the National Strike and in 2020 with the appearance of the Pandemic, experts in the economy and real estate predicted that the demand for houses and apartments in the country would be low, reality has shown otherwise. In fact, in 2020 and 2021 there has been an increase in the sale and purchase of used homes, and low-income homes.

Year Number of properties
2019 119,000
2020 200,000
2021 129,980

Historically, the months in which the most houses are sold in Colombia are between October and December, possibly because at this time of year people are waiting to meet the goals that were set and also in some jobs they usually give premiums in the months of June and December Therefore, the average income of Colombians increases during the second half of the year. According to data from ciencuadras.com, between Monday and Thursday, 60.71% of housing searches are carried out in Colombia.